ALF Brief Predicts Devasting Impacts If Congress Can Tax Unrealized Gains As “Income”
The Supreme Court has granted certiorari in Moore v. United States, No. 22-800, to review the constitutionality of the Mandatory Repatriation Tax, 26 U.S.C. § 965, a one-time tax which required U.S. taxpayers to treat as income a proportionate share of the undistributed profits of certain foreign corporations. The Ninth Circuit upheld the tax, asserting that “realization of income is […]
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